Estonia Supports Concluding Free Trade Agreements With Singapore and Canada and Preparing for Agreements With Japan and Morocco

29.11.2012

No 426-E

At a meeting the of the European Union foreign trade ministers in Brussels, Foreign Minister Urmas Paet said that he feels it is important that the European Union conclude free trade agreements with important trade partners.

Paet stated that the European Union’s negotiations with Singapore are in the final stages and the conclusion of the agreement will improve the competitiveness of EU businesses and investors in Singapore as well as in Asia as a whole. “For Estonia it is most important that we get better access to Singapore’s services market, especially in the area of information technology and e-services but also in the areas of logistics and transportation and financial services,” Paet said.

Estonia also supports quickly wrapping up negotiations for a free trade agreement with Canada. “We hope that this can happen before the end of the year,” the foreign minister noted.

The foreign trade ministers also discussed opening free trade agreement negotiations with Japan and Morocco. “Japan is a major player in global trade and the market there is very large. Japan is also an important strategic and trade partner of the European Union,” Paet stated. “Estonia would like for co-operation between Japan and the EU to be as comprehensive as possible in order to create a long-term, well-functioning strategic partnership,” he added.

Preparations for free trade agreement talks with countries along the southern shore of the Mediterranean Sea have developed the furthest with Morocco. “Promoting economic relations is an important element in guiding the EU’s southern neighbours toward reforms, and starting negotiations with Morocco will hopefully give a positive signal to others as well,” stated the Estonian foreign minister.